News Karnataka
Friday, March 29 2024
Cricket
Bengaluru

Rs 500 cr worth assets found in Bowring club during locker freeing exercise

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Bengaluru: Office-bearers of the famous Bowring Institute club were left flabbergasted, when a routine exercise of freeing up lockers, undertaken on Thursday, led to the discovery of a huge stash of assets valuing Rs 500 crore from the lockers of a club member.

The incident came to light when the club decided to break open the ‘illegally occupied’ lockers of those members who did not respond to notices sent asking them to register the lockers and pay the increased monthly rental.

Property documents, diamond and gold jewellery, Rs 3.9 cr in foreign currency, and signed blank cheques, totally valuing over Rs 500 crore were found lying in six zipper locked bags from the lockers numbered 69,71 and 78. Staffers of the club who had broken open the lockers, as part of the routine exercise immediately notified the club secretary H S Srikanth about the same.

The said lockers were being used by Avinash Amarlal Kukreja, a member of the club since 1993 without any authorisation from the club. As per reports, Avinash is into the financing business and loans money to individuals by pledging their documents. While he does not frequent the Bowring club much, his mother happens to visit here regularly.

Avinash even allegedly attempted to bribe the secretary to hush up the matter and return him the documents

Not wanting to take any chance Srikanth informed the police officials about this shocking discovery. The income tax officials, on July 20 seized the documents and other assets and have begun their investigations.

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